Contributors' opinions are their own.
Musk's wealth fell by almost $100 billion this year, the largest drop ever, according to the billionaires index.
Nathan Stirk | Getty Images On Monday, the company's shares hit their lowest point in two years. Musk's net worth fell from $340 billion in November to $171 billion by Tuesday. The tech mogul's wealth comes from several companies. Since the beginning of the year, shares of the company have plummeted. The richest man is Musk with $13 billion more than the second.
Concerns about the Chinese market have caused the stock price to plunge. Musk's ability to lead the company is likely to be a concern forTesla's shareholders. Concerns about the Fed's interest rate increases and an economic downturn are adding to the heat on the stock market.
The writer of investors.com gives an overview.
Tesla stock is not doing well. But it's not alone. Aggressive stocks have had a terrible 2022. Tesla's EV rivals in particular have struggled, including Nio stock, Li Auto, Rivian (RIVN) and BYD. So by that measure, TSLA stock doesn't look especially bad over the course of 2022. However, BYD is flat in November while Nio and Li Auto are up this month, while Tesla stock has lost one-fourth of its value.
Neither Musk nor the company had commented on the news.
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